Current:Home > StocksSenate begins final push to expand Social Security benefits for millions of people -Prime Capital Blueprint
Senate begins final push to expand Social Security benefits for millions of people
Poinbank View
Date:2025-04-06 09:41:45
WASHINGTON (AP) — The Senate is pushing toward a vote on legislation that would provide full Social Security benefitsto millions of people, setting up potential passage in the final days of the lame-duck Congress.
Senate Majority Leader Chuck Schumer, D-N.Y., said Thursday he would begin the process for a final vote on the bill, known as the Social Security Fairness Act, which would eliminate policies that currently limit Social Security payouts for roughly 2.8 million people.
Schumer said the bill would “ensure Americans are not erroneously denied their well-earned Social Security benefits simply because they chose at some point to work in their careers in public service.”
The legislation passed the House on a bipartisan vote, and a Senate version of the bill introduced last year gained 62 cosponsors. But the bill still needs support from at least 60 senators to pass Congress. It would then head to President Biden.
Decades in the making, the bill would repeal two federal policies — the Windfall Elimination Provision and the Government Pension Offset — that broadly reduce payments to two groups of Social Security recipients: people who also receive a pension from a job that is not covered by Social Security and surviving spouses of Social Security recipients who receive a government pension of their own.
The bill would add more strain on the Social Security Trust funds, which were already estimated to be unable to pay out full benefits beginning in 2035. It would add an estimated $195 billion to federal deficits over 10 years, according to the Congressional Budget Office.
Conservatives have opposed the bill, decrying its cost. But at the same time, some Republicans have pushed Schumer to bring it up for a vote.
Sen. Bill Cassidy, R-La., said last month that the current federal limitations “penalize families across the country who worked a public service job for part of their career with a separate pension. We’re talking about police officers, firefighters, teachers, and other public employees who are punished for serving their communities.”
He predicted the bill would pass.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (377)
Related
- Federal hiring is about to get the Trump treatment
- Part of Ohio’s GOP-backed K-12 education overhaul will take effect despite court order
- Travis Kelce Credits These 2 People “Big Time” for Their Taylor Swift Assist
- Want to fight climate change and food waste? One app can do both
- 2 killed, 3 injured in shooting at makeshift club in Houston
- John Legend blocks Niall Horan from 'divine' 4-chair win on 'The Voice': 'Makes me so upset'
- 2 workers conducting polls for Mexico’s ruling party killed, 1 kidnapped in southern Mexico
- Army officer pepper-sprayed during traffic stop asks for a new trial in his lawsuit against police
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Atlanta will pay $3.75M to family of Nebraska man who died after being handcuffed and held face down
Ranking
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Student loan repayments: These charts explain how much student debt Americans owe
- Known homeless advocate and reporter in Philadelphia shot and killed in his home early Monday
- With his mind fresh and body rejuvenated, LeBron James ready to roll with Lakers again
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Judge denies request by three former Memphis officers to have separate trials in Tyre Nichols death
- Missing 9-Year-Old Girl Charlotte Sena Found After Suspected Campground Abduction
- Powerball jackpot climbs to $1.2 billion ahead of Wednesday's drawing
Recommendation
Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
Jennifer Lopez Ditches Her Signature Nude Lip for an Unexpected Color
Escaped Virginia inmate identified as a suspect in a Maryland armed carjacking, police say
Opening statements to begin in Washington officers’ trial in deadly arrest of Black man Manuel Ellis
Pressure on a veteran and senator shows what’s next for those who oppose Trump
Nightclub fire in Murcia, Spain, leaves at least 13 dead
John Legend Doppelgänger Has The Voice Judges Doing a Double Take After His Moving Performance
'Sober October' is here. With more non-alcoholic options, it's easy to observe. Here's how.